US retail sales slump again
Thu Oct 15 02:38:23 EST 2009
Wed Oct 14 15:38:23 UTC 2009
WASHINGTON, Oct 14 AFP - US retail sales fell 1.5 per cent in September after moving into positive territory the previous month as the country emerges from a long recession, government data showed on Wednesday.
The sales slump followed a revised 2.2 per cent rise in August but was less than the 2.1 per cent drop expected by most analysts.
Approaching a holiday shopping season critical to economic recovery, US retailers are bracing for a difficult period with credit still tight and consumer caution lingering.
Many early projections suggests retail spending in the final two months of 2009 -- a season that accounts for a large proportion of sales and profits -- will be flat or lower.
